SCS Capital Management LLC Takes $4.75 Million Position in Oracle Corporation $ORCL

Key Points

• SCS Capital Management LLC has made a new investment in Oracle Corporation, acquiring 33,998 shares worth approximately $4.75 million.
• Several major hedge funds, including Vanguard Group and Northern Trust Corp, have increased their stakes in Oracle, with institutional investors now holding 42.44% of the stock.
• Analysts have raised price targets for Oracle, with KeyCorp's new target set at $225 and Deutsche Bank at $240, reflecting a generally positive outlook for the company.

SCS Capital Management LLC purchased a new stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,998 shares of the enterprise software provider's stock, valued at approximately $4,753,000.

Several other institutional investors have also added to or reduced their stakes in ORCL. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Oracle by 71.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after buying an additional 107,404 shares during the last quarter. Lockheed Martin Investment Management Co. grew its stake in shares of Oracle by 4.3% during the 1st quarter. Lockheed Martin Investment Management Co. now owns 51,350 shares of the enterprise software provider's stock valued at $7,179,000 after acquiring an additional 2,110 shares during the period. Nuveen LLC purchased a new position in shares of Oracle during the 1st quarter worth about $732,692,000. Rockland Trust Co. grew its stake in Oracle by 4.8% in the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after purchasing an additional 467 shares during the last quarter. Finally, Calamos Advisors LLC grew its position in shares of Oracle by 1.5% in the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after buying an additional 10,426 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Buying and Selling at Oracle

In related news, insider Michael D. Sicilia sold 15,880 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the transaction, the insider owned 99,212 shares in the company, valued at approximately $25,247,469.76. This trade represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the sale, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,183 shares of company stock valued at $10,353,198 over the last ninety days. 42.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America raised Oracle from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $295.00 to $368.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 price target (up from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Wolfe Research lifted their price target on shares of Oracle from $300.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday. Cantor Fitzgerald increased their price objective on shares of Oracle from $271.00 to $400.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Stifel Nicolaus upped their price objective on Oracle from $250.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $296.84.

Oracle Stock Down 5.1%

NYSE:ORCL traded down $15.79 during trading hours on Friday, hitting $292.07. 51,618,969 shares of the company's stock traded hands, compared to its average volume of 13,335,661. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $345.72. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62. The firm has a market cap of $820.37 billion, a P/E ratio of 67.61, a P/E/G ratio of 4.91 and a beta of 1.46. The stock's fifty day moving average price is $243.59 and its two-hundred day moving average price is $189.52.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. On average, research analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Oracle's dividend payout ratio (DPR) is currently 46.08%.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.